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Sumitomo Realty & Development Co (FRA:RL2) Accounts Payable & Accrued Expense for Financial Companies


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What is Sumitomo Realty & Development Co Accounts Payable & Accrued Expense for Financial Companies?

Accounts Payable & Accrued Expense for Financial Companies only applies to insurance companies.


Sumitomo Realty & Development Co (FRA:RL2) Business Description

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GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Sumitomo Realty & Development Co Ltd (FRA:RL2) » Definitions » Accounts Payable & Accrued Expense for Financial Companies
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Address
Shinjuku NS Building, 4-1, Nishi-Shinjuku 2-chome, Shinjuku-ku, Tokyo, JPN, 163-0820
Sumitomo Realty & Development is one of the three big Japanese real estate companies. Unlike Mitsubishi Estate in Marunouchi or Mitsui Fudosan in Nihonbashi, it did not inherit a cluster of prime properties from its prewar predecessor, so Sumitomo Realty has built up a portfolio dispersed across central Tokyo (not just in the main business districts) by opportunistically redeveloping plots of land acquired piecemeal. After office leasing, condo development is a relatively important business for Sumitomo Realty, contributing close to one fourth of its operating profit. The firm is slightly smaller than Mitsubishi Estate and Mitsui Fudosan by assets and has more financial leverage than they do.